Polaris School Advantage

The Polaris School Advantage loan is designed to support schools in meeting their short term funding needs and also assist in assets acquisition and expansion projects.
The types of loan available are:

Loan Type Features
Overdraft Facility

 

Purpose: This is an overdraft of 90 days maximum to augment the short term funding need of schools (Nursery, Primary, Secondary schools and Tertiary Institutions) specifically for salary payment and other urgent needs during term end/ school holiday periods
Maximum amount: N100 million
Tenor: 180 days Max.
Pricing: SME friendly
Asset Financing Facility Purpose: To finance school buses, Official Vehicles and generators (only) with repayment period of up to 36 months
Maximum amount: N100 million
Maximum amount: N100 million
Tenor: 36 months Max.
Pricing: SME friendly Pricing: SME friendly
Types of assets: Motor Vehicles, Buses, Generating Sets (ONLY)

 

Short Term Loan Purpose: Term loan with maximum tenor of up to 12 months to finance rent, purchase of laboratory equipment, furniture, books for library, School Expansion (Land Acquisition and Construction) etc Max.
Maximum amount: N100 million
Tenor: 12 months
Pricing: SME friendly

 

 

Education Loan

This can be used by parents who work in well-structured organizations to pay school fees.

Features:

  • Maximum loan amount of N5million.
  • Maximum facility tenor of 12 months.
  • Pricing is highly competitive.
  • Repayment shall be from salary domiciliation.
Salary Advance

This can be used by teachers to bridge personal funding gap against next pay day.

Features:

  • Maximum loan amount of 70% of monthly net income.
  • Maximum facility tenor of 30 days.
  • Pricing is highly competitive.
  • Repayment shall be from salary domiciliation.

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